Summary
The stock is trading at 52-week lows and continues to explore new depths.
The fundamental picture does not support an investment case in the company.
Institutional investors have increased their holdings in the company.
STON does not compare favorably with competitors.
Introduction:
StoneMor Partners (STON) is one of the few listed companies operating in the US deathcare industry. It operates as an MLP (read: Master Limited Partnership) and comprises two business segments; Cemetery Properties and Funeral Homes.
Figure-1 (Source: Google)
STON claims to be the second largest owner/operator of cemetery properties and funeral homes in the US. Figure-2 illustrates the different types of products and services sold by the company in its cemetery propertiesbusiness.
